France-China Cooperation Fund’s €400 Million Launch

Latham & Watkins LLP advised China Investment Corporation on the deal.

China Investment Corporation (“CIC”), BNP Paribas, and Eurazeo have announced the launch of the France-China Cooperation Fund, which has held a first close at €400m. Additional capital may be also raised from third parties.

The new fund will seek to invest in French and Continental European companies aiming to open new pathways for growth in China. Target companies are expected to be in sectors with significant opportunity in China, including advanced industrials, business services, consumer goods and services, healthcare, and digital technology.

China Investment Corporation (CIC), founded on 29 September 2007, was established as a vehicle to diversify China’s foreign exchange holdings and seek maximum returns for its shareholder within acceptable risk tolerance.

Latham & Watkins advised CIC on the transaction with a team led by Hong Kong partner Cathy Yeung (Picture) and London partner Nick Benson, with London associates Adi Jhaveri and Olivia Kim.

Involved fees earner: Nick Benson – Latham & Watkins; Olivia Kim – Latham & Watkins; Cathy Yeung – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: China Investment Corporation;

Author: Michael Patrini